Changpeng Zhao, former Binance CEO, hints at rising Bitcoin prices following a recent dip. Despite a tough weekend, he encourages buying during market corrections. The leading crypto has bounced back towards $95,000, raising hopes of reaching higher valuations soon. Zhao aims for an ambitious $1 million target for Bitcoin eventually, while Bitcoin advocate Alfred predicts a near-term reclaiming of $109,000.
Changpeng “CZ” Zhao, the co-founder and former CEO of Binance, has stirred excitement in the crypto community with a recent tweet suggesting potential increases in Bitcoin prices. His comment follows a tough weekend for Bitcoin, which ended with a declined value on both Saturday and Sunday. This marked the token’s first recession in seven days, casting shadows over its recent price recovery.
Despite these struggles, CZ took to X, encouraging followers to seize the opportunity presented by these price dips. In his April 27 tweet, he reminded his vast audience of over 10 million that every fall in price can be an opportunity to invest in valuable assets. “Hope You Bought the Dip?” he mused, pointing out that this is a common sentiment he shares when the market experiences downturns.
Zhao’s reassuring words to crypto enthusiasts have, over time, grown familiar whenever the market dips. Previously, he echoed similar thoughts on January 14, right after Bitcoin’s brief plunge to approximately $89,400. He aims to shift the mindset of investors, urging them to embrace downturns rather than fear them. He questioned if his followers have ever regretted not acting when prices were low.
In a reflection of this positive outlook, Bitcoin has since bounced back from its low over the weekend. After dipping below $93,000 on Monday, the leading cryptocurrency is now trading around $95,000. CZ’s optimistic comments seem to have sparked renewed hope among investors that Bitcoin could indeed strive for higher valuations in the coming days.
In light of these developments, CZ’s earlier accurate prediction regarding Bitcoin’s decline from $100,000 to $85,000 only strengthens the bullish narrative in the market right now. He’s even projected a staggering $1 million per Bitcoin in the long-term future, although he hasn’t pinned down a specific timeline on when that might occur.
Meanwhile, Bitcoin advocate Alfred suggested that Bitcoin could reclaim its six-figure price point at $109,000 soon, particularly now that it’s made a move past $95,000. He asserted that as there appears to be little resistance between these two values, Bitcoin could enjoy an upward trajectory if momentum persists.
Currently, Bitcoin’s trading price stands at around $94,836, bringing its market capitalization to an impressive $1.88 trillion. But remember, as always, this article serves informational purposes only and should not be seen as financial advice. Investors should conduct their own research before making any financial decisions. The views expressed here reflect the author’s personal opinions and may not represent those of The Crypto Basic.
